Tag: UBIT

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Seeking Tax-Exemption for a Name, Image and Likeness Collective (NIL)? What to Know.

NIL collectives have been on the rise since the NCAA made the biggest change ever in college athletics:  in July 2021, they adopted interim rules permitting student-athletes the ability to benefit from their name, image and likeness, also known as “NIL.”  This …

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Qualified Sponsorship Payments, UBIT, and Social Media – A Reminder For Nonprofits

Takeaway – Nonprofits and consumer brands continue to find new ways to promote their collaborations. Take care that messages delivered at live events, in print, and online are consistent with the IRS rules regarding qualified sponsorships to avoid triggering unintended tax consequences …

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Key Legal Issues in Corporate Partnerships

  Are you looking for answers to legal questions that arise in cause marketing and corporate partnerships?  If so, look no further! Last year, Selfishgiving.com founder and blogger  Joe Waters and I distributed a five-question survey to businesses and nonprofits regularly engaged in cause …

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IRS Says Agreement With For-Profit Won’t Jeopardize Nonprofit Group’s Exempt Status

On October 3, 2014, the Internal Revenue Service (IRS) issued a Private Letter Ruling (PLR 201440023) that opens the path for charities to monetize their intellectual property through commercial arrangements with for-profit companies. The ruling approves an arrangement between a 501(c)(3) charity …

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